S&P 500 Valuation - Shiller's Cyclically-Adjusted Price-To-Earnings (CAPE) Ratio

With the Shiller P/E ratio indicating an unusually high valuation for the U.S. stock market compared to the start of previous presidential terms, investors may need to moderate their expectations for future returns.

Image: The Wall Street Journal

S&P 500 Valuation - Shiller P/E Ratio at the Start of Presidency